A year ago, e-commerce was growing at a healthy clip: 19% year-over year growth in Q4 2007, finishing off a strong year. A year later, the market has crashed.
Market research firm comScore says U.S. e-commerce shrank 3% year-over-year in Q4, the first time the market shrank since comScore started measuring it in 2001. Retail e-commerce grew 6% in 2008 to $130.1 billion, but that’s still a huge deceleration.
For better perspective, here’s the market’s free-fall in chart form.